<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.)*
ACORN PRODUCTS, INC.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
004857 10 8
(CUSIP Number)
Michael E. Cahill, Esq. Kenneth Liang
Managing Director & General Counsel Managing Director & General Counsel
The TCW Group, Inc. Oaktree Capital Management, LLC
865 South Figueroa Street, Suite 1800 550 South Hope Street, 22nd Floor
Los Angeles, California 90017 Los Angeles, California 90071
(213) 244-0000 (213) 614-0000
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 23, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE> 2
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 2 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The TCW Group, Inc.
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 3,162,049
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
3,162,049
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,162,049
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
48.9%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
HC, CO
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 3
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 3 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert A. Day
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 3,162,049
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
3,162,049
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,162,049
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
48.9%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
IN, HC
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 4
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 4 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trust Company of the West
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 1,013,473
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
1,013,473
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,013,473
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.7%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
CO, BK
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 5
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 5 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TCW Asset Management Company
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 2,148,576
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
2,148,576
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,148,576
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.2%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
CO, IA
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 6
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 6 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TCW Special Credits
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 2,148,576
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
2,148,576
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,148,576
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.2%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
PN, IA
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 7
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 7 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TCW Special Credits Fund III
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 660,036
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
660,036
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
660,036
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.2%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
PN
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 8
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 8 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TCW Special Credits Fund IIIb
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 625,988
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
625,988
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
625,988
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.7%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
PN
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 9
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 9 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TCW Special Credits Trust IIIb
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 447,124
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
447,124
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
447,124
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.9%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
OO
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 10
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 10 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Oaktree Capital Management, LLC
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 937,500
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
937,500
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
937,500
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.5%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
IA; OO
====================================================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 11
SCHEDULE 13D
<TABLE>
- ----------------------------------------------- ------------------------------------------------
<S> <C>
CUSIP NO. 004857 10 8 PAGE 11 OF 27 PAGES
- ----------------------------------------------- ------------------------------------------------
</TABLE>
<TABLE>
====================================================================================================================================
<S> <C> <C>
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OCM Principal Opportunities Fund, L.P.
- ------------------------------------------------------------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[X]
- ------------------------------------------------------------------------------------------------------------------------------------
3
SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------------------
4
SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------------------------------------------------------------
7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 937,500
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------------------------------
8
SHARED VOTING POWER
-0-
---------------------------------------------------------------------------------------------------------------------
9
SOLE DISPOSITIVE POWER
937,500
---------------------------------------------------------------------------------------------------------------------
10
SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
937,500
- ------------------------------------------------------------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.5%
- ------------------------------------------------------------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE> 12
ITEM 1. SECURITY AND ISSUER
This statement on Schedule 13D (this "Statement"), relates to the common stock,
par value $0.001 per share ("Common Stock"), of Acorn Products, Inc., a Delaware
corporation (the "Issuer"). The address of the principal executive office of the
Issuer is 500 Dublin Avenue, Columbus, Ohio 43215.
ITEM 2. IDENTITY AND BACKGROUND
This Statement is filed on behalf of:
(1) The TCW Group, Inc., a Nevada corporation ("TCWG");
(2) Robert A. Day, an individual;
(3) Trust Company of the West, a California corporation and wholly-owned
subsidiary of TCWG ("TCW");
(4) TCW Asset Management Company, a California corporation and wholly-owned
subsidiary of TCWG ("TAMCO");
(5) TCW Special Credits, a California general partnership of which TAMCO is
the managing general partner ("Special Credits");
(6) Two California limited partnerships, TCW Special Credits Fund III and
TCW Special Credits Fund IIIb, of which Special Credits is the general
partner;
(7) TCW Special Credits Trust IIIb, a California collective investment
trust, of which TCW is the trustee;
(8) Oaktree Capital Management, LLC, a California limited liability company
("Oaktree"); and
(9) OCM Principal Opportunities Fund, L.P., a Delaware limited
partnership of which Oaktree is the general partner (the "Oaktree
Fund").
Special Credits also is the general partner of two other limited California
partnerships which hold shares of the issuer's Common Stock (together with TCW
Special Credits Fund III and TCW Special Credits Fund IIIb, the "Special Credits
Limited Partnerships"). TCW also is the trustee of three other collective
investment trusts which hold shares of the Issuer's Common Stock (together with
TCW Special Credits Trust IIIb, the "Special Credits Trusts"). Special Credits,
the Special Credits Limited Partnerships and the Special Credits Trusts
hereinafter are collectively referred to as the "Special Credits Entities."
Special Credits also is the investment manager of third party accounts which
invest in similar securities as the Special Credit Entities, three of which hold
shares of the Issuer's Common Stock (the "Special Credits Accounts"). TCWG, TCW,
TAMCO and the Special Credits Entities hereinafter are collectively referred to
as the "TCW Related Entities."
TCWG is a holding company of entities involved in the principal business of
providing investment advice and management services. TCW is a trust company
which provides investment management services, including to the Special Credits
Trusts. TAMCO is an investment adviser and provides investment advice and
management services to institutional and individual investors. Special Credits
provides investment advice and management services to the Special Credits
Limited Partnerships and the Special Credits Accounts. The Special Credits
Limited Partnerships are investment partnerships which invest in financially
distressed entities. The Special Credits Trusts are collective investment trusts
12
<PAGE> 13
which invest in financially distressed entities. The address of the principal
business and principal office for the TCW Related Entities is 865 South Figueroa
Street, Suite 1800, Los Angeles, California 90017.
Mr. Day acts as Chairman of the Board and Chief Executive Officer of TCWG.
Additionally, Mr. Day may be deemed to control TCWG, although he disclaims such
control and disclaims beneficial ownership of any securities owned by the TCW
Related Entities.
The principal business of Oaktree is to provide investment advice and management
services to institutional and individual investors. The Oaktree Fund is an
investment partnership which invests in entities over which there is a potential
for the Oaktree Fund to exercise significant influence. The address of the
principal business and principal office for Oaktree and the Oaktree Fund is 550
South Hope Street, 22nd Floor, Los Angeles, California 90071.
(a) - (c) & (f)
(i) The executive officers of TCWG are listed below. The principal business
address for each executive officer is 865 South Figueroa Street, Suite 1800, Los
Angeles, California, 90017. Each executive officer is a citizen of the United
States of America unless otherwise specified below:
Executive Officers
- ------------------
Robert A. Day Chairman of the Board & Chief Executive Officer
Ernest O. Ellison Vice Chairman of the Board
Marc I. Stern President
Alvin R. Albe, Jr. Executive Vice President, Finance & Administration
Thomas E. Larkin, Jr. Executive Vice President & Group Managing Director
Michael E. Cahill Managing Director, General Counsel & Secretary
David K. Sandie Managing Director, Chief Financial Officer &
Assistant Secretary
Schedule I attached hereto and incorporated herein sets forth with respect to
each director of TCWG his name, residence or business address, citizenship,
present principal occupation or employment and the name, principal business and
address of any corporation or other organization in which such employment is
conducted.
(ii) The executive officers and directors of TCW are listed below. The
principal business address for each executive officer and director is 865 South
Figueroa Street, Suite 1800, Los Angeles, California 90017. Each executive
officer is a citizen of the United States of America unless otherwise specified
below:
Executive Officers & Directors
- ------------------------------
Robert A. Day Chairman of the Board & Chief Executive Officer
Ernest O. Ellison Director, Vice Chairman & Chief Investment Officer -
U.S. Fixed Income
Thomas E. Larkin, Jr. Director & President
Alvin R. Albe, Jr. Director & Executive Vice President, Finance &
Administration
Marc I. Stern Director, Executive Vice President & Group Managing
Director
Michael E. Cahill Managing Director, General Counsel & Secretary
David K. Sandie Managing Director, Chief Financial Officer &
Assistant Secretary
13
<PAGE> 14
(iii) The executive officers and directors of TAMCO are listed below. The
principal business address for each executive officer and director is 865 South
Figueroa Street, Suite 1800, Los Angeles, California, 90017. Each executive
officer and director is a citizen of the United States of America unless
otherwise specified below:
Executive Officers & Directors
- ------------------------------
Robert A. Day Chairman of the Board & Chief Executive Officer
Thomas E. Larkin, Jr. Director & Vice Chairman of the Board
Marc I. Stern Director & Vice Chairman of the Board
Ernest O. Ellison Chief Investment Officer - Domestic Fixed Income
Alvin R. Albe, Jr. Director, Executive Vice President, Finance &
Administration
Michael E. Cahill Managing Director, General Counsel & Secretary
David K. Sandie Managing Director, Chief Financial Officer &
Assistant Secretary
(iv) The following sets forth with respect to each general partner of Special
Credits his name, residence or business address, present principal occupation or
employment and the name, principal business and address of any corporation or
other organization in which such employment is conducted for. Each general
partner who is a natural person is a citizen of the United States of America
unless otherwise specified below.
TAMCO is the Managing General Partner. See information in paragraph (iii) above.
Bruce A. Karsh
President and Principal
Oaktree Capital Management, LLC
550 South Hope Street
22nd Floor
Los Angeles, California 90071
Howard S. Marks
Chairman and Principal
Oaktree Capital Management, LLC
550 South Hope Street
22nd Floor
Los Angeles, California 90071
Sheldon M. Stone
Principal
Oaktree Capital Management, LLC
550 South Hope Street
22nd Floor
Los Angeles, California 90071
David Richard Masson
Principal
Oaktree Capital Management, LLC
550 South Hope Street
22nd Floor
Los Angeles, California 90071
14
<PAGE> 15
(v) Special Credits is the sole general partner of the Special Credits
Limited Partnerships. See information in paragraph (iv) above regarding Special
Credits and its general partners. The name and address of the portfolio manager
of the Special Credits Limited Partnerships and the Special Credits Accounts is
set forth below.
Bruce A. Karsh
550 South Hope Street
22nd Floor
Los Angeles, California 90071
(vi) The members and executive officers of Oaktree are listed below. The
principal address for each member and executive officer of Oaktree is 550 South
Hope Street, Los Angeles, California 90071. All individuals listed below are
citizens of the United States of America.
Executive Officers and Members
- ------------------------------
Howard S. Marks Chairman and Principal
Bruce A. Karsh President and Principal
Sheldon M. Stone Principal
David Richard Masson Principal
Larry Keele Principal
Russel S. Bernard Principal
Stephen A. Kaplan Principal
David Kirchheimer Managing Director and Chief Financial and
Administrative Officer
Kenneth Liang Managing Director and General Counsel
(vii) Oaktree is the sole general partner of the Oaktree Fund. See
information in paragraph (vi) above regarding Oaktree and its members and
executive officers. The names and addresses of the portfolio managers of the
Oaktree Fund are listed below.
Stephen A. Kaplan
550 South Hope Street
22nd Floor
Los Angeles, California 90071
Bruce A. Karsh
550 South Hope Street
22nd Floor
Los Angeles, California 90071
(d) - (e)
During the last five years, neither TCWG, TCW, TAMCO, the Special Credits
Entities, Oaktree, the Oaktree Fund, nor, to the best of their knowledge, any of
their respective executive officers, directors and general partners (i) has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors); or (ii) has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceedings was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.
15
<PAGE> 16
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
All shares reported herein were acquired by the Special Credits Entities and
the Special Credits Accounts (i) in connection with the acquisition of the
Issuer and the restructuring of certain of the Issuer's debt obligations and
(ii) in connection with the Issuer's initial public offering in an exchange of
shares of the Issuer's outstanding Common Stock for certain subordinated
indebtedness held by the Special Credits Entities and the Special Credits
Accounts at the rate of one share of Common Stock for each $14.00 aggregate
principal amount of indebtedness held.
The TCW Special Credits Fund III holds 660,036 shares of the Issuer's
outstanding Common Stock. The TCW Special Credits Fund III acquired 299,322
shares of the Issuer's outstanding Common Stock in connection with the
acquisition of the Issuer and the restructuring of certain of the Issuer's debt
obligations. In connection with the Issuer's initial public offering, the TCW
Special Credits Fund III acquired 360,714 shares of the Issuer's outstanding
Common Stock in exchange for certain subordinated indebtedness held by the TCW
Special Credits Fund III at the rate of one share of Common Stock for each
$14.00 aggregate principal amount of indebtedness held.
The TCW Special Credits Fund IIIb holds 625,988 shares of the Issuer's
outstanding Common Stock. The TCW Special Credits Fund IIIb acquired 287,754
shares of the Issuer's outstanding Common Stock in connection with the
acquisition of the Issuer and the restructuring of certain of the Issuer's debt
obligations. In connection with the Issuer's initial public offering, the TCW
Special Credits Fund IIIb acquired 338,234 shares of the Issuer's outstanding
Common Stock in exchange for certain subordinated indebtedness held by the TCW
Special Credits Fund IIIb at the rate of one share of Common Stock for each
$14.00 aggregate principal amount of indebtedness held.
The TCW Special Credits Trust IIIb holds 447,124 shares of the Issuer's
outstanding Common Stock. The TCW Special Credits Trust IIIb acquired 205,332
shares of the Issuer's outstanding Common Stock in connection with the
acquisition of the Issuer and the restructuring of certain of the Issuer's debt
obligations. In connection with the Issuer's initial public offering, the TCW
Special Credits Trust IIIb acquired 241,792 shares of the Issuer's outstanding
Common Stock in exchange for certain subordinated indebtedness held by the TCW
Special Credits Trust IIIb at the rate of one share of Common Stock for each
$14.00 aggregate principal amount of indebtedness held.
The Oaktree Fund holds 937,500 shares of the Issuer's outstanding Common Stock.
The Oaktree Fund acquired 812,500 shares of the Issuer's outstanding Common
Stock in the Issuer's initial public offering for $14.00 per share. The Oaktree
Fund acquired 125,000 shares of the Issuer's outstanding Common Stock pursuant
to a negotiated private transaction for $14.00 per share. All such purchases
were made from the working capital of the Oaktree Fund.
ITEM 4. PURPOSE OF TRANSACTION
The TCW Related Entities intend to review on a continuing basis their respective
investments in the Common Stock. Depending on the factors discussed herein, the
TCW Related Entities may, from time to time, retain or sell all or a portion of
their respective holdings of the Common Stock pursuant to a registered public
offering or in the open market or in privately negotiated transactions. In
connection with the Issuer's initial public offering, the Special Credits
Entities and the Special Credits Accounts entered into a lock-up agreement
pursuant to which they agreed, subject to certain exceptions, that they will not
offer, sell or otherwise dispose of any of the shares of Common Stock owned by
them prior to December 21, 1997 without the prior written consent of the
representatives of the underwriters in the initial public offering. Subject to
the terms of the lock-up agreement, sales by the TCW Related Entities may be
made at any time without further prior notice. Any actions that the TCW Related
Entities might undertake with respect to the Common Stock will be dependent upon
their review of numerous factors, including, among other things, the
availability of Common Stock for purchase and the price levels of such Common
Stock, general market and economic conditions as well as those in the areas in
which the Issuer's properties are located, ongoing evaluation of the Issuer's
business, financial condition, properties, operations and prospects, the
relative attractiveness of alternative business and investment opportunities,
the actions of the management and the Board of Directors of the Issuer and other
future developments.
16
<PAGE> 17
The TCW Related Entities, individually or together, reserve the right, subject
to applicable law, to seek proxies, consents and/or ballots in support of
nominees at special or scheduled meetings of shareholders or otherwise, or in
support of or against other matters that may come before the Issuer's
shareholders for their vote or consent.
Although the foregoing reflects activities presently contemplated by the TCW
Related Entities with respect to the Issuer, the foregoing is subject to change
at any time, and there can be no assurance that the TCW Related Entities will
take any of the actions referred to above or participate in a group that will
take any of the actions referred to above. Except as set forth above, the TCW
Related Entities have no present plans or proposals which would result in or
relate to any of the transactions described in subparagraphs (a) through (j) of
Item 4 of Schedule 13D.
The Oaktree Fund acquired its Common Stock in the Issuer in the manner specified
in Item 3.
Oaktree and the Oaktree Fund intend to review on a continuing basis the Oaktree
Fund's investment in the Common Stock. Depending on the factors discussed
herein, the Oaktree Fund may, from time to time, retain or sell all or a portion
of its holdings of the Common Stock pursuant to a registered public offering or
in the open market or in privately negotiated transactions. In connection with
the Issuer's initial public offering, the Oaktree Fund entered into a lock-up
agreement pursuant to which it agreed, subject to certain exceptions, that it
will not offer, sell or otherwise dispose of any of the shares of Common Stock
owned by it prior to December 21, 1997 without the prior written consent of the
representatives of the underwriters in the initial public offering. Subject to
the terms of the lock-up agreement, sales by the Oaktree Fund may be made at any
time without further prior notice. In addition, Oaktree and the Oaktree Fund may
from time to time purchase additional shares of Common Stock in the open market
or in privately negotiated transactions. Such purchases may be made at any time
without further prior notice. Any actions that the Oaktree Fund might undertake
with respect to the Common Stock will be dependent upon its review of numerous
factors, including, among other things, the availability of Common Stock for
purchase and the price levels of such Common Stock, general market and economic
conditions as well as those in the areas in which the Issuer's properties are
located, ongoing evaluation of the Issuer's business, financial condition,
properties, operations and prospects, the relative attractiveness of alternative
business and investment opportunities, the actions of the management and the
Board of Directors of the Issuer, and other future developments.
Oaktree and the Oaktree Fund reserve the right, subject to applicable law, to
seek proxies, consents and/or ballots in support of nominees at special or
scheduled meetings of shareholders or otherwise, or in support of or against
other matters that may come before the Issuer's shareholders for their vote or
consent.
Although the foregoing reflects activities presently contemplated by Oaktree and
the Oaktree Fund with respect to the Issuer, the foregoing is subject to change
at any time, and there can be no assurance that Oaktree or the Oaktree Fund will
take any of the actions referred to above or participate in a group that will
take any of the actions referred to above. Except as set forth above, Oaktree
and the Oaktree Fund have no present plans or proposals which would result in or
relate to any of the transactions described in subparagraphs (a) through (j) of
Item 4 of Schedule 13D.
ITEM 5. INTEREST AND SECURITIES OF THE ISSUER
(a) As of the date of this Statement, TCW Special Credits Fund III owns
660,036 shares of the Issuer's outstanding Common Stock, which is approximately
10.2% of the Issuer's outstanding Common Stock. TCW Special Credits Fund IIIb
owns 625,988 shares of the Issuer's outstanding Common Stock, which is
approximately 9.7% of the Issuer's outstanding Common Stock. Special Credits, as
the sole general partner of the Special Credits Limited Partnerships and as
investment manager of the Special Credits Accounts, may be deemed to
beneficially own 2,148,576 shares of the Issuer's outstanding Common Stock,
which is approximately 33.2% of the Issuer's outstanding Common Stock.
17
<PAGE> 18
As of the date of this Statement, TCW Special Credits Trust IIIb owns 447,124
shares of the Issuer's outstanding Common Stock, which is approximately 6.9% of
the Issuer's outstanding Common Stock. TCW, as the trustee of the Special
Credits Trusts may be deemed to beneficially own 1,013,473 shares of the
Issuer's outstanding Common Stock, which is approximately 15.7% of the Issuer's
outstanding Common Stock.
TAMCO, as the managing general partner of Special Credits, may be deemed to
beneficially own the Issuer's outstanding Common Stock held by the Special
Credits Limited Partnerships and the Special Credits Accounts, all of which
constitutes 2,148,576 shares of the Issuer's outstanding Common Stock, or
approximately 33.2% of the outstanding shares of the Issuer's Common Stock.
TCWG, as the parent corporation of TCW and TAMCO, may be deemed to beneficially
own shares of the Issuer's outstanding Common Stock deemed to be owned by the
other TCW Related Entities and the Special Credits Accounts, all of which
constitutes 3,162,049 shares of the Issuer's outstanding Common Stock, or
approximately 48.9% of the outstanding shares of the Issuer's Common Stock.
TCWG, TCW, TAMCO and Special Credits each disclaims beneficial ownership of the
shares of the Issuer's outstanding Common Stock reported herein and the filing
of this Statement shall not be construed as an admission that any such entity is
the beneficial owner of any securities covered by this Statement. Bruce A.
Karsh, Howard S. Marks, D. Richard Masson and Sheldon M. Stone each disclaim
ownership of the shares of the Issuer's Common Stock reported herein and the
filing of this Statement shall not be construed as an admission that any of such
individuals is the beneficial owner of any securities covered by this Statement.
Mr. Day may be deemed to beneficially own the Issuer's outstanding Common Stock
deemed to be owned by the other TCW Related Entities, all of which constitutes
3,162,049 shares of the Issuer's outstanding Common Stock (approximately 48.9%
of the Issuer's outstanding Common Stock). Mr. Day disclaims beneficial
ownership of the Issuer's outstanding Common Stock reported herein and the
filing of this Statement shall not be construed as an admission that Mr. Day is
the beneficial owner of any securities covered by this Statement.
As of the date of this Statement, the Oaktree Fund beneficially owns 937,500
shares of the Issuer's outstanding Common Stock, which is approximately 14.5% of
the Issuer's outstanding Common Stock.
Oaktree, as the general partner of the Oaktree Fund, may be deemed to
beneficially own 937,500 shares of the Issuer's Common Stock. Certain principals
of Oaktree are individual general partners of Special Credits, (the "Individual
Partners"). The Individual Partners, in their capacity as general partners of
Special Credits, have been designated to manage the Special Credits Limited
Partnerships, the Special Credits Trusts and the Special Credits Accounts.
Although Oaktree provides consulting, research and other investment management
support to the Individual Partners, Oaktree does not have voting or dispositive
power with respect to the Special Credits Limited Partnerships, the Special
Credits Trusts or the Special Credits Accounts. Oaktree therefore disclaims
beneficial ownership of the 3,162,049 shares of the Issuer's Common Stock, or
approximately 48.9% of the outstanding shares of the Issuer's Common Stock, held
by the Special Credits Entities and the Special Credits Accounts, and the filing
of this Statement shall not be construed as an admission that Oaktree is the
beneficial owner of any securities held by the Special Credits Entities and the
Special Credits Accounts.
(b) Special Credits, as the sole general partner of the Special Credits
Limited Partnerships, has discretionary authority and control over all of the
assets of the Special Credits Limited Partnerships pursuant to the limited
partnership agreements for such limited partnerships including the power to vote
and dispose of the Issuer's Common Stock held by the Special Credits Limited
Partnerships. In addition, Special Credits, as the investment manager of the
Special Credits Accounts, has discretionary authority and control over all of
the assets of such accounts pursuant to the investment management agreements
relating to such accounts including the power to vote and dispose of the
Issuer's Common Stock held by the Special Credits Accounts. Therefore, Special
Credits has the power to vote and dispose of 2,148,576 of the Issuer's Common
Stock.
18
<PAGE> 19
TAMCO, as managing general partner of Special Credits also has the power to vote
and dispose of the Issuer's Common Stock held by Special Credits referenced
above. Therefore, TAMCO has the power to vote and dispose of 2,148,576 shares of
the Issuer's Common Stock.
TCW, as the trustee of the Special Credits Trusts, has discretionary authority
and control over all the assets of the Special Credits Trusts pursuant to the
trust agreements for such trusts including the power to vote and dispose of the
Issuer's Common Stock held by the Special Credits Trusts. Therefore, TCW has the
power to vote and dispose of 1,013,473 of the Issuer's Common Stock.
TCWG, as the parent of TCW and TAMCO, may be deemed to have the power to vote
and dispose of the shares of the Issuer's Common Stock that the other TCW
Related Entities have the power to vote and dispose, all of which constitutes
3,162,049 shares of the Issuer's Common Stock.
Oaktree, as the general partner of the Oaktree Fund, has discretionary authority
and control over all of the assets of the Oaktree Fund pursuant to the
partnership agreement for the Oaktree Fund, including the power to vote and
dispose of the Issuer's Common Stock held in the name of the Oaktree Fund.
Therefore, Oaktree has the power to vote and dispose of 937,500 shares of the
Issuer's Common Stock.
The Individual Partners, in their capacity as general partners of Special
Credits, have been designated to manage the Special Credits Limited
Partnerships, the Special Credits Trusts and the Special Credits Accounts.
Although Oaktree provides consulting, research and other investment management
support to the Individual Partners, Oaktree does not have voting or dispositive
power with respect to the Special Credits Limited Partnerships, the Special
Credits Trusts or the Special Credits Accounts.
(c) Other than the transactions described in Item 3, none of the TCW Related
Entities, Oaktree or the Oaktree Fund, and to the best of their knowledge, none
of their respective officers, directors or general partners has effected
transactions involving the Issuer's Common Stock during the last 60 days.
(d) The investment advisory clients of TCWG and the partners of the various
partnerships managed by the TCW Entities have the sole right to receive and,
subject to the notice, withdrawal and/or termination provisions of such advisory
and partnership arrangements, the sole power to direct the receipt of dividends
from, and the proceeds of sale of, any of the Common Stock beneficially owned by
each of TCWG and any of the other TCW Related Entities. No such client or
partner has an interest by virtue of such relationship that relates to more than
5% of the Issuer's Common Stock. Neither TCWG nor any of the TCW Related
Entities has a pecuniary interest in any of the Issuer's Common Stock reported
herein.
The investment advisory clients of Oaktree and the partners of the Oaktree Fund
managed by Oaktree have the sole right to receive and, subject to the notice,
withdrawal and/or termination provisions of such advisory and partnership
arrangements, the sole power to direct the receipt of dividends from, and the
proceeds of sale of, any of the Common Stock beneficially owned by Oaktree and
the Oaktree Fund. No such client or partner has an interest by virtue of such
relationship that relates to more than 5% of the Issuer's Common Stock. Oaktree
has no pecuniary interest in any of the Issuer's Common Stock reported herein.
(e) Not applicable.
19
<PAGE> 20
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
Special Credits, as general partner of the Special Credits Limited Partnerships,
receives a management fee for managing all the assets of each Special Credits
Limited Partnerships. In addition, Special Credits, as investment manager of the
Special Credits Accounts, receives a management fee for managing the assets of
the Special Credits Accounts.
TCW, as trustee of the Special Credits Trusts, receives a management fee for
managing all the assets of Special Credits Trusts.
Oaktree, as the general partner of the Oaktree Fund receives a management fee
for managing the assets of the Oaktree Fund and has a carried interest in
the Oaktree Fund.
In connection with the Issuer's initial public offering, A.G. Edwards & Sons,
Inc., as lead underwriter, was granted an over-allotment option to purchase up
to an additional 487,500 shares of Common Stock. In connection with the Oaktree
Fund's private purchase of 125,000 shares of the Issuer's outstanding Common
Stock from A.G. Edwards & Sons, Inc., A.G. Edwards & Sons, Inc. has agreed not
to exercise its over-allotment option for more than 200,000 shares of the
Issuer's Common Stock.
Except to the extent the securities referred to in this Statement constitute
assets of the Special Credits Entities, Oaktree or the Oaktree Fund, there are
no contracts, understandings or relationships (legal or otherwise) among or
between any member of the TCW Related Entities, Oaktree, the Oaktree Fund or, to
the best of their knowledge, their respective executive officers, directors or
general partners or between or among any of such persons and with respect to any
securities of the Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following is filed herewith as an Exhibit to this Statement:
Exhibit 1.1- A written agreement relating to the filing of the joint
acquisition statement as required by Rule 13d-1(f)(1)
under the Securities Exchange Act of 1934, as amended.
20
<PAGE> 21
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certify that the information set forth in this Statement is true,
complete and correct.
Dated as of this 2nd day of July, 1997.
THE TCW GROUP, INC.
/s/ Mohan Phansalkar
- ---------------------------------------
Mohan Phansalkar
Authorized Signatory
ROBERT A. DAY
/s/ Mohan Phansalkar
- ---------------------------------------
Mohan Phansalkar
Under Power of Attorney dated
January 30, 1996, on file with
Schedule 13G Amendment No. 1 for
Matrix Service Co. dated January 30, 1996
TRUST COMPANY OF THE WEST
/s/ Bruce A. Karsh
- ---------------------------------------
Bruce A. Karsh
Authorized Signatory
TCW ASSET MANAGEMENT COMPANY
/s/ Bruce A. Karsh
- ---------------------------------------
Bruce A. Karsh
Authorized Signatory
TCW SPECIAL CREDITS
/s/ Bruce A. Karsh
- ----------------------------------------
Bruce A. Karsh,
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits
21
<PAGE> 22
TCW SPECIAL CREDITS FUND III
/s/ Bruce A. Karsh
- --------------------------------------
Bruce A. Karsh
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits,
the General Partner of TCW Special Credits Fund III
TCW SPECIAL CREDITS FUND IIIb
/s/ Bruce A. Karsh
- -----------------------------------------
Bruce A. Karsh
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits,
the General Partner of TCW Special Credits Fund IIIb
TCW SPECIAL CREDITS TRUST IIIb
/s/ Bruce A. Karsh
- ---------------------------------------
Bruce A. Karsh
Authorized Signatory of Trust Company of the West,
the trustee of TCW Special Credits Trust IIIb
OAKTREE CAPITAL MANAGEMENT, LLC
/s/ Kenneth Liang
- ---------------------------------------
Kenneth Liang
Managing Director and General Counsel
OCM PRINCIPAL OPPORTUNITIES FUND, L.P.
/s/ Kenneth Liang
- ---------------------------------------
Kenneth Liang
Managing Director and General Counsel of
Oaktree Capital Management, LLC,
the General Partner of OCM
Principal Opportunities Fund, L.P.
22
<PAGE> 23
SCHEDULE I
BOARD OF DIRECTORS
OF
TCW GROUP, INC.
All of the following individuals are directors of TCW Group, Inc. Each director
is a citizen of the United States of America unless otherwise specified below:
<TABLE>
<S> <C>
HOWARD P. ALLEN CARLA A. HILLS
Former Chairman & CEO 1200 19th Street, N.W.
Southern California Edison 5th Floor
2244 Walnut Grove Blvd. Washington, DC 20036
Rosemead, CA 91770
DR. HENRY A. KISSINGER
JOHN M. BRYAN Chairman
Partner Kissinger Associates, Inc.
Bryan & Edwards 350 Park Ave., 26th Floor
600 Montgomery St., 35th Floor New York, NY 10022
San Francisco, CA 94111
THOMAS E. LARKIN, JR.
ROBERT A. DAY President
Chairman of the Board, Trust Company of the West
Trust Company of the West 865 South Figueroa St., Suite 1800
200 Park Avenue, Suite 2200 Los Angeles, California 90017
New York, New York 10166
KENNETH L. LAY
DAMON P. DE LASZLO, ESQ. Chairman and Chief Executive Officer
Managing Director of Harwin Enron Corp.
Engineers S.A., Chairman & D.P. 1400 Smith Street
Advisers Holdings Limited Houston, TX 77002-7369
Byron's Chambers
A2 Albany, Piccadilly MICHAEL T. MASIN, ESQ.
London W1V 9RD - England Vice Chairman
(Citizen of United Kingdom) GTE Corporation
One Stamford Forum
WILLIAM C. EDWARDS Stamford, CT 06904
Partner
Bryan & Edwards EDFRED L. SHANNON, JR.
300 Sand Hill Road, Suite 190 Investor/Rancher
Menlo Park, CA 94025 1000 S. Fremont Ave.
Alhambra, CA 9l802
ERNEST O. ELLISON
Vice Chairman ROBERT G. SIMS
Trust Company of the West Private Investor
865 South Figueroa St., Suite 1800 11828 Rancho Bernardo, Box 1236
Los Angeles, California 90017 San Diego, CA 92128
</TABLE>
23
<PAGE> 24
<TABLE>
<S> <C>
HAROLD R. FRANK MARC I. STERN
Chairman of the Board President
Applied Magnetics Corporation The TCW Group, Inc.
75 Robin Hill Rd. 865 S. Figueroa St. Suite 1800
Goleta, CA 93017 Los Angeles, CA 90017
</TABLE>
24
<PAGE> 25
EXHIBIT INDEX
Exhibit
Number Description
- ------ -----------
1.1 A written agreement relating to the filing of the joint acquisition
statement as required by Rule 13d-1(f)(1) under the Securities Exchange
Act of 1934, as amended.
25
<PAGE> 1
EXHIBIT I
JOINT FILING AGREEMENT
The undersigned acknowledge and agree that the foregoing statement on Schedule
13D is filed on behalf of each of the undersigned and that all subsequent
amendments to this statement on Schedule 13D shall be filed on behalf of each of
the undersigned without the necessity of filing additional joint acquisition
statements. The undersigned acknowledge that each shall be responsible for the
timely filing of such amendments, and for the completeness and accuracy of the
information concerning him or it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the other,
except to the extent that he or it knows or has reason to believe that such
information is inaccurate.
Dated: July 2, 1997
THE TCW GROUP, INC.
/s/ Mohan Phansalkar
---------------------------------------
Mohan Phansalkar
Authorized Signatory
ROBERT A. DAY
/s/ Mohan Phansalkar
---------------------------------------
Mohan Phansalkar
Under Power of Attorney dated
January 30, 1996, on file with
Schedule 13G Amendment No. 1 for
Matrix Service Co. dated January 30, 1996
TRUST COMPANY OF THE WEST
/s/ Bruce A. Karsh
---------------------------------------
Bruce A. Karsh
Authorized Signatory
TCW ASSET MANAGEMENT COMPANY
/s/ Bruce A. Karsh
---------------------------------------
Bruce A. Karsh
Authorized Signatory
TCW SPECIAL CREDITS
/s/ Bruce A. Karsh
----------------------------------------
Bruce A. Karsh,
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits
<PAGE> 2
TCW SPECIAL CREDITS FUND III
/s/ Bruce A. Karsh
--------------------------------------
Bruce A. Karsh
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits,
the General Partner of TCW Special Credits Fund III
TCW SPECIAL CREDITS FUND IIIb
/s/ Bruce A. Karsh
---------------------------------------
Bruce A. Karsh
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits,
the General Partner of TCW Special Credits Fund IIIb
TCW SPECIAL CREDITS TRUST IIIb
/s/ Bruce A. Karsh
---------------------------------------
Bruce A. Karsh
Authorized Signatory of Trust Company of the West,
the trustee of TCW Special Credits Trust IIIb
OAKTREE CAPITAL MANAGEMENT, LLC
/s/ Kenneth Liang
---------------------------------------
Kenneth Liang
Managing Director and General Counsel
OCM PRINCIPAL OPPORTUNITIES FUND, L.P.
/s/ Kenneth Liang
---------------------------------------
Kenneth Liang
Managing Director and General Counsel of
Oaktree Capital Management, LLC,
the General Partner of CCM
Principal Opportunities Fund, L.P.
